The case involves an application filed by Mr. Deepak Gupta, the Erstwhile Resolution Professional of M/s. Mainframe Energy Solutions Private Limited (‘Corporate Debtor’), seeking the payment of CIRP costs, including professional fees. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by M/s. Integrated Batteries India Private Limited (‘Operational Creditor’). Mr. Gupta served as the Interim Resolution Professional (IRP) until he was replaced by Mr. Devender Lodha. The applicant claimed a total amount of Rs. 21,69,450/- towards CIRP costs and professional fees, but the Committee of Creditors (CoC) approved only Rs. 1,64,450/-. The matter was referred to the Insolvency and Bankruptcy Board of India
…M/s. Integrated Batteries India Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Mainframe Energy Solutions Limited, the corporate debtor, under Section 9 of the Code, 2016. Mr. Deepak Gupta was appointed as the Interim Resolution Professional (IRP). He performed his duties until 07.10.2020 and was later replaced by Mr. Devender Lodha. Mr. Gupta claimed Rs. 21,69,450/- towards CIRP costs and professional fees, but the Committee of Creditors (CoC) approved only Rs. 1,64,450/- in its 4th CoC Meeting. Mr. Gupta filed an application (I.A./3520/2020) seeking a decision on the CIRP cost. The Adjudicating Authority referred the matter to the IBBI for determination of CIRP costs and professional fees. The IBBI
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Adjudicating Authority initiated Corporate…
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The case involves an application filed by Mr. Deepak Gupta, the Erstwhile Resolution Professional of M/s. Mainframe Energy Solutions Private Limited (‘Corporate Debtor’), seeking the payment of CIRP costs, including professional fees. The Corporate Insolvency Resolution Process (CIRP) was initiated against the Corporate Debtor based on an application filed by M/s. Integrated Batteries India Private Limited (‘Operational Creditor’). Mr. Gupta served as the Interim Resolution Professional (IRP) until he was replaced by Mr. Devender Lodha. The applicant claimed a total amount of Rs. 21,69,450/- towards CIRP costs and professional fees, but the Committee of Creditors (CoC) approved only Rs. 1,64,450/-. The matter was referred to the Insolvency and Bankruptcy Board of India
…M/s. Integrated Batteries India Private Limited, an operational creditor, initiated Corporate Insolvency Resolution Process (CIRP) against M/s. Mainframe Energy Solutions Limited, the corporate debtor, under Section 9 of the Code, 2016. Mr. Deepak Gupta was appointed as the Interim Resolution Professional (IRP). He performed his duties until 07.10.2020 and was later replaced by Mr. Devender Lodha. Mr. Gupta claimed Rs. 21,69,450/- towards CIRP costs and professional fees, but the Committee of Creditors (CoC) approved only Rs. 1,64,450/- in its 4th CoC Meeting. Mr. Gupta filed an application (I.A./3520/2020) seeking a decision on the CIRP cost. The Adjudicating Authority referred the matter to the IBBI for determination of CIRP costs and professional fees. The IBBI
…Adjudicating Authority initiated Corporate…
Application (C.P.(IB)/177/2019) filed under…
Sign in to view related legal provisions.